NIYO SOLUTIONS

NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers.

FinTech

Basic Information

NIYO is a Bengaluru based fintech startup that offers digital banking solutions such as prepaid payroll cards, cross-border travel payment debit cards and multi-wallet tax benefit cards to customers. Founded in 2015, NIYO operates as a neo-bank or challenger bank and offers digital banking products and services through partnerships with banks. Niyo is present in more than 30 cities across India with an employee strength of over 10000 across different cities. Niyo has a retail customer base of over 1.3 million and enterprise customer base of over 6000. The company's products include the Niyo Bharat card which is a zero-balance account, a Niyo taxsaver card and Niyo Global Account.

Legal Name

Finnew Solutions Pvt Ltd

Headquarters

Bangalore, Karnataka, India

Business Model

B2C, B2B2C

Founding Date

Nov 2015

No. of Employees

11 to 20

Core Team

VINAY BAGRI

Co-Founder

VIRENDER SINGH BISHT

Co-Founder

Timeline

2015

Nov | Company Incorporation

Incorporation of the company

2016

Sep | Product Launch

Launch of NIYO Benefits Card Product

2017

Jan | Product Launch

Launch of NIYO Bharat Product

2018

Sep | Product Launch

Launch of NIYO Global Card

2019

Jul | Raised Funding

Raised Series B funding round

Revenue Stream

Commission on transaction

Fee-For-Service

Target Market

B2B

We provide integrated payroll, salary banking and HRMS solutions to enterprises (SMEs) who employ blue-collared workers

Client Segment

FinTech, SaaS

Target Companies

Small Enterprise, Medium Enterprise

Target Geography

India

B2C

We provide prepaid payroll cards along with mobile app for blue-collared workers and a zero forex mark-up cross border travel payment card for people who travel abroad

User Age

35 to 45, More than 60, 26 to 34, 18 to 25, 46 to 60

User Income

Upper-middle Income, High Income, Lower-middle Income, Lower Income

Location

India

Funding

Total Funding

$49.2M

Investors

Social Capital

Tencent Holdings